The Master $2 reporting "trick" explained

[mendelssohn]

I used this trick - Discover was at $2.86 and reported at $2. FICO 8 score went from a 631 to a 776, TU Mortgage FICO from a 615 to a 702. Good stuff!

So the answer is - it has to be over $2. I can try next month with $2.49 lol.

We (BW and I) picked $3 to make it simple.

 

Please update your results for anyone wanting to use Discover.

[Cappy]

I guess "thread titles" are my thing.

 

If you look at my titles from the past, I do put a lot of effort into making them stand out

[CreditNewb15]

I used this trick - Discover was at $2.86 and reported at $2. FICO 8 score went from a 631 to a 776, TU Mortgage FICO from a 615 to a 702. Good stuff!

So the answer is - it has to be over $2. I can try next month with $2.49 lol.

 

Was the only difference your reported utility?

Those jumps seem extreme.

 

 

Everyone else- are these types of jumps common?

Edited August 11, 2016 by CreditNewb15

[Konrad2012]

It's explained clearly in the first post. The thread title does not need to be changed.

"The $2, but $3 on Discover, and dont use Chase, USB, DCU or any other end of month reporting card trick"

 

Yes, that's not a very good title.

[Cappy]

I used this trick - Discover was at $2.86 and reported at $2. FICO 8 score went from a 631 to a 776, TU Mortgage FICO from a 615 to a 702. Good stuff!

So the answer is - it has to be over $2. I can try next month with $2.49 lol.

$2.01 should also work.

[mendelssohn]

I guess "thread titles" are my thing.

 

If you look at my titles from the past, I do put a lot of effort into making them stand out

That's fine when you're starting new threads. Your title was more confusing.

[CreditNewb15]

Y'all need additional hobbies.

[mendelssohn]

 

It's explained clearly in the first post. The thread title does not need to be changed.

"The $2, but $3 on Discover, and dont use Chase, USB, DCU or any other end of month reporting card trick"

 

Yes, that's not a very good title.

[indyrox]

Yep, only utility. No derogs, extra inquiries... I had 2 cards over the limit.

[indyrox]

And this is what it looks like when 2 of your cards have $300 limits and a fee hits...

[PsychoScore]

Can confirm.

 

Hit 850 on 7/27 with EX & TU with $1 reporting on an amex BCP. Score dropped when I had an oopsie 2 days later when Amex BCP reported a negative balance due to using rewards and a return on card I had forgotten about.

 

Scores dropped from 850 to EX: 825 TU: 841 (EQ: 786 , dont know what it ws on 7/27)

 

Result of Discover reporting $3 on 8/4

 

EQ: 818 EX: 850 TU: 850

[CreditNewb15]

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

[RussInGotham]

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

[Cappy]

 

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

Not true.

 

You can use a card with a $1,000 limit and it has the same effect.

[mendelssohn]

 

 

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

Not true.

 

You can use a card with a $1,000 limit and it has the same effect.

Higher limit is better since individual utilization is also considered, as long as it's not $50K+.

[Cappy]

 

 

 

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

Not true.

 

You can use a card with a $1,000 limit and it has the same effect.

Higher limit is better since individual utilization is also considered, as long as it's not $50K+.

Higher limits are always better, but the effect will still work with a lower limit card.

[mendelssohn]

 

 

 

 

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

Not true.

 

You can use a card with a $1,000 limit and it has the same effect.

Higher limit is better since individual utilization is also considered, as long as it's not $50K+.

Higher limits are always better, but the effect will still work with a lower limit card.

 

 

We're not looking for the "effect," but the optimum scenario, Grasshopper.

[Cappy]

 

 

 

 

 

Does it matter which card is reporting $2?

Can it be on a card with a $1,000 limit or a card with a $15,000 limit? No difference?

IIRC, a higher limit is better, and an older account is better.

Not true.

 

You can use a card with a $1,000 limit and it has the same effect.

Higher limit is better since individual utilization is also considered, as long as it's not $50K+.

Higher limits are always better, but the effect will still work with a lower limit card.

We're not looking for the "effect," but the optimum scenario, Grasshopper.

 

I answered the question.

[mendelssohn]

Cappy, Russ was correct.

 

Account age has no impact though.

Edited August 16, 2016 by mendelssohn

[RussInGotham]

Cappy, Russ was correct.

 

Account age has no impact though.

 

I must have gotten the account age mixed up with something else. My bad.

[CreditNewb15]

What's the difference between the greatest "effect" and the optimum scenario?

 

Y'all have lost me.

[mendelssohn]

What's the difference between the greatest "effect" and the optimum scenario?

 

Y'all have lost me.

Follow what Russ and I said if you want the most points.

[CreditNewb15]

 

What's the difference between the greatest "effect" and the optimum scenario?

 

Y'all have lost me.

Follow what Russ and I said if you want the most points.

 

 

 

Damn.

I'll do that NEXT month ha.

Thanks.

 

[Kat58]

What's the difference between the greatest "effect" and the optimum scenario?

 

Y'all have lost me.

 

Standardized terminology can be so confusing

[mendelssohn]

Not really.